the stock is heavily promoted thru its AIM listing, all good but...

the stock is heavily promoted thru its AIM listing, all good but valuations need a sense of realism.

And that must always be grounded in actual production today. Not future earnings that carry devlopment risk.

Perhaps if they are 1p reserves, in a safe political space, that makes their sale material. then some value per barral can be attributed to them.

But as an investor goes, it must come back to how capitol is managed, no point in a growing MC if that is by further dillution. (same sp, more shares.)

Ie the actual production profits, must fund growth.

I'm not sure why a market in this climate, would pay for next years growth production figures (estimate), when all sorts of risks are at play.

I would have thought that get to a fair value of todays production, and then maybe a 20-30% loading on that, as each progressive milestone in growth is achieved, as well as a value of saleable 1p reserves. (foreget those in countries where others fear to tread)

You want 1600 bopd for mc of 50m? that puts this to comparison with the sword. NDO.